Bond Damage Tally: $430 Billion Lost as Slump Put in Perspective
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Global bond markets have lost about $430 billion since the start of last week as investors ponder the end of a six-year rally that sent yields to record lows.
Traders returning from Europe’s May Day holidays sent yields surging across the continent as tensions between Greece and its creditors worsened, adding to the anxiety. Yields began the climb last week as prominent bond investors from Jeffrey Gundlach to Bill Gross questioned the viability of negative yields with the European Central Bank’s stimulus measures appearing to put an end to the risk of deflation.